White Organic Retail plunges ~5% on bonus issue of 2:1

28 Feb 2022 , 11:32 AM

In its regulatory filing, White Organic Retail Limited announced that the company’s Board of Directors has approved the issue of Bonus Equity Shares to existing equity shareholders in the ratio of 2:1 i.e; 2 (Two) bonus Equity Share of Rs10 (Rupees Ten Only) i.e; 200%, fully paid up for every 1 (One) existing fully paid-up Equity Share, held by the shareholders on a record date, subject to statutory and other required approvals.

The board is very pleased to share that the Company has witnessed huge demand for its products. The company has in the past Yearly, Half Yearly, and Quarter numbers, have shown a drastic growth trend and we look forward to riding this wave of progression and facilitating a fruitful and productive year ahead, stated the company in regulatory filing.

The company’s management is futuristic that company’s efficient strategy execution will translate into sustainable and responsible growth. The Board is pleased to reward its shareholders in the form of bonus equity shares.

White organics was trading 4.95% or Rs43.50 down in today’s trade at Rs835 against its previous closing price of Rs878.50. It touched day’s high and low of Rs900 and Rs834.60 respectively.